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Turkey’s current account gap widens, with no respite in sight for the lira

The Turkish lira is likely to tumble further in the coming months as the country’s current account gap threatens to grow beyond $40 billion by the end of the year.

A picture taken on Aug. 14, 2018, shows the logo of Turkey's Central Bank (TCMB).
A picture taken on Aug. 14, 2018, shows the logo of Turkey's Central Bank (TCMB) at the entrance of the bank's headquarters in Ankara, Turkey. — ADEM ALTAN/AFP via Getty Images

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